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CNP

CenterPoint Energy

$26.51

0.16 (0.61%)

10:26
12/17/19
12/17
10:26
12/17/19
10:26

CenterPoint Energy explores sale of non-utility services units, Reuters reports

CenterPoint Energy is evaluating the sale of two services units that could garner over $1B as the company looks to raise capital and streamline its structure, Reuters' David French reports, citing people familiar with the matter. The move comes after the Public Utility Commission of Texas denied CenterPoint's request to earn a 10.5% return on equity, allowing the company to earn a 9.25% return. Centerpoint, which had been working with advisors prior to the PUCT decision, is looking to sell its energy services business and infrastructure services unit. Reference Link

CNP CenterPoint Energy
$26.51

0.16 (0.61%)

11/25/19
WELS
11/25/19
DOWNGRADE
Target $26
WELS
Market Perform
CenterPoint Energy downgraded to Market Perform from Outperform at Wells Fargo
Wells Fargo analyst Sarah Akers downgraded CenterPoint Energy to Market Perform from Outperform with a $26 price target.
11/26/19
WELS
11/26/19
DOWNGRADE
Target $26
WELS
Market Perform
Wells downgrades CenterPoint Energy to Market Perform on higher equity needs
As previously reported, Wells Fargo analyst Sarah Akers downgraded CenterPoint Energy to Market Perform from Outperform as she now now assumes the company will need $2.5B in equity funding in reaction to negative developments including, most recently, the Public Utilities Commission of Texas' cost of capital decision. Although she notes that CenterPoint shares have already meaningfully underperformed since the PUCT's decision, she does not expect outperformance absent a reconsideration by the PUCT or non-core asset sales that ease the equity needs, Akers tells investors. She set a $26 price target on CenterPoint shares.
11/26/19
11/26/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Tesla (TSLA) downgraded to Hold from Buy at China Renaissance with analyst Carson Ng citing valuation. 2. CenterPoint Energy (CNP) downgraded to Market Perform from Outperform at Wells Fargo with analyst Sarah Akers saying she now now assumes the company will need $2.5B in equity funding in reaction to negative developments including, most recently, the Public Utilities Commission of Texas' cost of capital decision. 3. CymaBay (CBAY) was downgraded to Market Perform from Strong Buy at Raymond James, to Neutral from Overweight at Cantor Fitzgerald, as well as to Neutral from Buy at H.C. Wainwright and Roth Capital. 4. Molson Coors (TAP) downgraded to Market Perform from Outperform at BMO Capital with analyst Amit Sharma saying Molson's "persistently low" valuation and high free cash flow yield has failed to entice investors as its "structurally compromised" sales growth has been "too high a hurdle," even for deep-value investors. 5. Comerica (CMA) downgraded to Equal Weight from Overweight at Morgan Stanley with analyst Ken Zerbe saying he sees "far more" net interest margin compression at Comerica by the end of 2020 than the median he expects at its peers. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
12/13/19
RBCM
12/13/19
NO CHANGE
Target $28
RBCM
Outperform
CenterPoint Energy price target lowered to $28 from $35 at RBC Capital
RBC Capital analyst Shelby Tucker lowered his price target on CenterPoint Energy to $28 after its recent decline but claims that the sell-off in the stock price related to November Houston rate case decision is overdone. The analyst still sees the company's path forward for financing plans at CenterPoint Energy Houston Electric depending on the outcome of the Public Utility Commission of Texas meeting, but keeps his Outperform rating on the stock and believes that its earnings growth rate can resume at abut 6%.

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